The pension fund crisis last month that did for Kwasi Kwarteng as Chancellor and eventually for Liz Truss as well really was a serious event, posing a real threat to the public finances and the stability of the financial system. The Treasury Select Committee has been looking into what happened and taken evidence from a lot of those involved. The so-called LDI (Liability Driven Insurance) problem arose because of the derivative contracts which many pension funds, faced with the legal requirement to match their future liabilities, had taken out to try and add some extra return to their funds.  I...